Shaw and Westinghouse Awarded Nuclear Power Maintenance and Engineering Contract by South Carolina Electric & Gas
July 28 2009 - 4:01PM
Business Wire
The Shaw Group Inc. (NYSE: SGR) today announced the Maintenance
and Fossil & Nuclear segments of its Power Group and
Westinghouse Electric Company have been awarded a new long-term
alliance contract with South Carolina Electric & Gas Company
(SCE&G), the principal subsidiary of SCANA Corporation (NYSE:
SCG), to provide nuclear maintenance, modification, refueling
outage and design engineering services to its V.C. Summer Nuclear
Station Unit 1, located in Jenkinsville, S.C.
The contract is an extension of the relationship established by
Shaw and Westinghouse to provide engineering, procurement and
construction services for two new AP1000TM nuclear power units,
V.C. Summer Units 2 and 3, operated by SCE&G and the South
Carolina Public Service Authority (Santee Cooper).
Under the new contract, Shaw will provide maintenance,
modification, refueling outage and design engineering services to
V.C. Summer Unit 1 immediately and Units 2 and 3 once they are
complete. Units 2 and 3 are scheduled for commercial operation
dates of 2016 and 2019, respectively.
The value of Shaw's cost reimbursable contract, which will be
included in the company's fourth quarter fiscal year 2009 backlog
of unfilled orders, was not disclosed.
"South Carolina Electric & Gas and Santee Cooper are
visionary companies taking bold steps to provide safe, efficient
and carbon-free baseload power generation, " said Fred Buckman,
president of Shaw’s Power Group. “Teaming our maintenance,
modification and engineering services enhances our ability to
respond quickly, safely and effectively to our client’s needs,
which reduces costs to them and their customers.”
Shaw provides systemwide maintenance and modification services
to approximately 36 percent (37 of 104 operating units) of U.S.
nuclear reactors, including the country's two largest nuclear
fleets. Shaw is a leader in nuclear refueling outage performance
with significantly shorter outages than the industry average and
has performed uprates and studies on 48 operating pressurized water
reactor (PWR) and boiling water reactor (BWR) nuclear units, adding
more than 2,250 MWe to the U.S. grid.
SCE&G is a regulated public utility that provides natural
gas service to approximately 309,000 customers in South Carolina.
SCE&G also is engaged in the generation, transmission,
distribution and sale of electricity to approximately 652,000
customers throughout the state. Information about SCE&G is
available on the company’s Web site at www.sceg.com.
SCANA Corporation, a Fortune 500 company headquartered in
Columbia, South Carolina, is an energy-based holding company
principally engaged, through subsidiaries, in electric and natural
gas utility operations and other energy-related businesses in South
Carolina, North Carolina and Georgia. Information about SCANA
Corporation and its businesses is available on the Company's Web
site at www.scana.com.
The Shaw Group Inc. is a leading global provider of technology,
engineering, procurement, construction, maintenance, fabrication,
manufacturing, consulting, remediation and facilities management
services for government and private sector clients in the energy,
chemicals, environmental, infrastructure and emergency response
markets. A Fortune 500 company with fiscal year 2008 annual
revenues of $7 billion, Shaw is headquartered in Baton Rouge, La.,
and employs approximately 26,000 people at its offices and
operations in North America, South America, Europe, the Middle East
and the Asia-Pacific region. Shaw is the power sector industry
leader according to Engineering News-Record's list of Top 500
Design Firms. For further information, please visit Shaw's Web site
at www.shawgrp.com.
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for certain forward-looking statements. The
statements contained herein that are not historical facts
(including without limitation statements to the effect that the
Company or its management “believes,” “expects,” “anticipates,”
“plans” or other similar expressions) and statements related to
revenues, earnings, backlog or other financial information or
results are forward-looking statements based on the Company’s
current expectations and beliefs concerning future developments and
their potential effects on the Company. There can be no assurance
that future developments affecting the Company will be those
anticipated by the Company. These forward-looking statements
involve significant risks and uncertainties (some of which are
beyond our control) and assumptions and are subject to change based
upon various factors. Should one or more of such risks or
uncertainties materialize, or should any of our assumptions prove
incorrect, actual results may vary in material respects from those
projected in the forward-looking statements. The Company undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. A description of some of the risks and uncertainties
that could cause actual results to differ materially from such
forward-looking statements can be found in the Company’s reports
and registration statements filed with the Securities and Exchange
Commission, including its Form 10-K and Form 10-Q reports, and on
the Company’s Web site under the heading “Forward-Looking
Statements.” These documents are also available from the Securities
and Exchange Commission or from the Investor Relations department
of Shaw. For more information on the company and announcements it
makes from time to time on a regional basis, visit our Web site at
www.shawgrp.com.
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